Turnaround Management and Corporate Renewal

A South African Perspective
  • Publication Date: 2011
  • Dimensions and Pages: 240x170 mm, 572pp
  • EAN: 9781868145195
  • Recommended Price (ZAR): 400.00

A turnaround is to produce a noticeable and endurable improvement in performance, to turnaround the trend of results from down to up, from not good enough to clearly better, from underachieving to acceptable, from losing to winning.
— Stanley J. Goodman (1982)

This broad definition can apply to turnarounds in almost anything – a life, an endeavour, a company, a municipality, a non-profit organisation, a sporting team, a school, a university or technicon, a government, a country or even a continent. Turnaround Management and Corporate Renewal deals mainly with the turnaround of business organisations. The strategic, financial, legal, human resources, marketing and operations, stakeholder management, political, and internal and external aspects of turnarounds are evaluated in depth by leaders in their fields.

Definitions, stages of a turnaround, rapid appraisal and detailed analysis, recovery plan development and implementation as well as the new Business Rescue legislation are covered. Change management, small business turnarounds, recruiting for a turnaround, value management and value engineering, early warning signals and managing stress are all included in the chapters. Tools and techniques that can be used to deal with many different turnaround challenges are explained in considerable detail, while the case studies are written by people who have led successful South African turnarounds.

Written by thirty-five noted management and turnaround practitioners, consultants and academics in South Africa, the book is partially based on the highly successful Wits Business School (WBS) programme How to Manage a Turnaround and Corporate Renewal (MATCR). WBS was one of the first business schools in the world to introduce an executive education programme in turnaround management when Neil Harvey and Frans van Heerden convened the first MATCR course in 2002.

Many of the discussed concepts and principles can be applied to various non-business turnaround aspects of life. The book is therefore aimed not only at management practitioners, consultants, academics and students, but also at staff experts, engineers, accountants and lawyers in the private sector, municipality and trade union leaders, government, parastatals, non-profit organisations, sporting clubs and educational institutions.

Neil Harvey led fourteen successful turnarounds across a variety of industries in Africa, Europe and the United States from 1968 to 1999. He has since been a professor at Rhodes University and adjunct professor at Grand Valley State University in the USA.

Table of contents:

Part 1 Introduction

1 Introduction Neil Harvey
2 How turnarounds differ from normal management Neil Harvey
3 Managing a turnaround overview Neil Harvey
4 The Turnaround Management Association (TMA-SA) Jan van der Walt
5 Turnaround situations Jan van der Walt

Part 2 Fundamentals

6 Turnaround strategy Peter Flack
7 Choosing a leadership style during a turnaround Frans van Heerden
8 Legal aspects of turnarounds David Gewer
9 The new business rescue procedure Eric Levenstein
10 Financial aspects of a turnaround John Evans
11 Change management Dennis Applebee
12 Human resources leadership in a turnaround Ntombi Langa-Royds
13 Strategic marketing challenges in a turnaround Mark Peters
15 Managing stakeholders Philip Reynolds

Part 3 Perspectives

16 Corporation or business turnaround, demystified Dana Cooper
17 Legal statutory frameworks for the facilitation of turnarounds David Burdette
18 A turnaround practitioner’s view on new business rescue legislation Jan van der Walt
19 Organisational politics as an element of the turnaround process Frans van Heerden
20 The valuation of a business in distress or decline Neil Harvey
21 A union perspective Petrus Nxumalo
22 A banker’s perspective Robin Taggart
23 Small business turnarounds Colin Batchelor
24 The role of the internet in the turnaround strategy of small business Roger Elliot
25 Critical variables of venture turnarounds: a liabilities approach Marius Pretorius and Gert Holtzhauzen

Part 4 Implementation

26 Turnaround tools and techniques Neil Harvey
27 Value management and value engineering Kurt Huber
28 One sucker required: corporate governance issues in business restructuring and turnaround management
Karl Gribnitz
29 Recruiting for a turnaround
Johann Redelinghuys
30 Converting debt to equity John Evans
31 Early warning signals
Neil Harvey
Albertina Jere
32 Stress: who is in control? David Kirby

Part 5 Case studies

33 Amagamated Electrical Industries Corporation Herman Singh
34 Amquip Neil Harvey
35 Barloworld Ivor Sander
36 Bevco Robin Taggart
37 BKS Olaus van Zyl
38 Food Corporation Neil Harvey
39 Konkolo Copper Mine Albertina Jere and Malenga Jere
40 Karoo Farming Dick Stringer
41 NEPAD Wiseman Nkuhlu
42 Professional Management Review (PMR) Barbara Wood
43 The South African Post Office Marietjie Lancaster
44 XYZ Company Garrath Rosslee and Vanessa Cowan
45 Zambia Breweries Neil Harvey

Part 6 Conclusion

46 Review Neil Harvey
47 Conclusions Neil Harvey
48 Recommendations Neil Harvey

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